MediaAlpha, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 02, 2023 at 04:05 pm EDT
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MediaAlpha, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 84.77 million compared to USD 103.45 million a year ago. Net loss was USD 14.29 million compared to USD 9.14 million a year ago. Basic loss per share from continuing operations was USD 0.32 compared to USD 0.22 a year ago.
For the six months, sales was USD 196.4 million compared to USD 246.05 million a year ago. Net loss was USD 24.55 million compared to USD 16.22 million a year ago. Basic loss per share from continuing operations was USD 0.55 compared to USD 0.39 a year ago.
MediaAlpha, Inc. is an online customer acquisition channel in property and casualty (P&C) insurance, health insurance and life insurance. Its technology platform brings insurance carriers and high-intent consumers together through a real-time, programmatic, transparent, and results-driven ecosystem. Its platform is a set of predictive analytics algorithms that incorporate various variables to generate conversion probabilities for each consumer. The Companyâs platform allows buyers to fully integrate first-party consumer data to enhance targeting parameters, bidding granularity and conversion tracking. Its search and conversion datasets enable automated, algorithmic customer acquisition optimizations. It offers a self-service model, which enables its partners to directly manage the buying and selling process independently. Through its platform, its insurance carrier partners can target and price across over 35 separate consumer attributes to manage customized acquisition strategies.